Scandal over $ 7 million

Former member of the IOTA Board of Directors, Sergey Invancheglo, has announced that he will take legal action against IOTA founder David Sønstebø. Sønstebø refused to transfer to Invancheglo the mIOTA tokens to which he is entitled. The dispute revolves around a sum of 25 million MIOTA, which is a scandal of over $ 7 million.

“I notify the IOTA community that I will no longer collaborate with David Sønstebø and that I will liaise with my lawyers to obtain the 25 million MIOTA from him. He refuses to transfer the tokens to make me act for his own benefit and against me. ”

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Sønstebø quickly responded to the allegations, claiming that it was disheartening to see his six-year-old partner doing so. He also claimed that he defended Invancheglo against criticism and controversy on several occasions. Apparently, however, he is “incapable of being a professional and is willing to stab anyone in the back to feed their pride.”

The price of IOTA cryptocurrency is around $ 0.33 and can be traded on Binance, both in dollars and in Bitcoin.

Scandal over $ 7 million in IOTA council

This very public dispute seems to have come from a distributed hardware project they had worked on before the IOTA – Jinn project.

“I wish him good luck in his effort to achieve his personal vision – a true MMO VR. As for the personal and professional relationship: I am done ”,

Sønstebø said.

Invancheglo left the IOTA Foundation last June, relinquishing its position on its Board of Directors. Currently, the foundation is developing an implementation that will allow IOTA to function without a central coordinator – Coordicid.

Sønstebø added that he would post a detailed explanation of the events that led to the misunderstanding:

“In short: the IOTA project is too mature and has too much role in the real world to be held hostage by one person. Especially someone who wants the whole protocol to conform to his idea of ​​VR-MMO ”,

he said.